🔥 Bitcoin In Strong Consolidation: Waiting For Action

24 במאי 2022

Since BTC capitulated around two weeks ago, the biggest crypto has been trading in a surprisingly horizontal pattern. I expected more volatility to either the top or the bottom, but after almost two weeks we're still rangebound between 28.5k - 31k.

At the moment, it's best to assume that BTC will stay trading inside this range until it doesn't anymore. When we'll make a new high or low we can deduce that that side is on the winning hand and will signal more price action in that specific direction.

For break out traders, patience is key. Wait for BTC to break out of this range before we can start a new trend.